Local News

North Dakota oil production tops 1 million barrels, rig count rises

Article by Ian Grande

Stanley – The latest report from the North Dakota Department of Natural Resources showed an increase of over 52,000 barrels per day (month/month), bringing the production total to 1,034,000 barrels per day in February.

The rig count in North Dakota is also on the rise. There are currently 51 rigs in operation in North Dakota, up from 38 in January. The all-time high was set in May of 2012 when there were 218 rigs operating in the state.

 

“Operators are shifting from running the minimum number of rigs to incremental increases throughout 2017, as long as WTI oil price remains between $50/barrel and $60/barrel,” said Director Lynn Helms.


– Ian Grande is the Editor of the Stanley Gazette. If you have any comments or concerns please email StanleyGazette@gmail.com

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